Estonia's average electricity price to jump to €385 per MWh on Wednesday

Power lines.
Power lines. Source: Siim Lõvi/ERR

The average price of electricity in Estonia will jump to €385.24 per megawatt-hour on Wednesday, up from € 261.94 on Tuesday, according to Nord Pool's day-ahead prices* for September 7.

Hourly prices in Estonia will remain under €300 per megawatt-hour from midnight through 6 a.m. on Wednesday.

Prices will exceed €500 per megawatt-hour from 7-10 a.m. as well as from 5-9 p.m., including peaking at €550.01 from 7-8 p.m.

At 10 p.m., the hourly price will fall to €250 before bottoming out at €178.40 per megawatt-hour from 11 p.m. through midnight.

To the south, both Latvia and Lithuania will see higher daily average prices at €436.06 per megawatt-hour on Wednesday; like Estonia, the daily average in both will increase by more than €100 compared with the previous day.

As on Tuesday, Finland's average price per megawatt-hour will match Estonia's Wednesday.

Record high prices in mid-August

Electricity prices in Nord Pool's Estonian price area reached record highs just over two weeks prior, with the average price for August 17 reaching €682.05 per megawatt-hour and the hourly price peaking €4,000 per megawatt-hour, which is also the power exchange's cap.

The overall average in Estonia last month reached €361 per megawatt-hour, up from €233 per megawatt-hour in July.

*All times are noted in Central European Summer Time (CEST), one hour behind Estonian time, in accordance with Nord Pool's own data.


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Editor: Aili Vahtla

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